Shares of Nita Spaces surged 10%, hitting the upper circuit limit during Thursday’s trading session, following the approval of their residential project “PRANA” by the Gujarat RERA Authority at GIFT City Gandhinagar.
According to the company’s filing with the exchange, this project is being developed by its subsidiary, Nila Urban Living Private Limited, in which the company holds a 90% stake. The registration remains valid until December 31, 2030, unless it is renewed by the RERA Authority.
The project has engaged in partnerships with leading international companies. The brand’s identity has been crafted by Interbrand, a worldwide brand consulting firm. Architectural design is being executed by Blocher Partners, a German firm celebrated for its practical and user-focused strategies.
The lifestyle services in the development will be facilitated by Quintessentially, a concierge provider specialising in travel, wellness, dining, education, and cultural experiences.
Deep Vadodaria, the CEO of Nila Spaces, expressed that the goal behind PRANA was to transform the approach to urban residential development by integrating design, wellness, and sustainability into a cohesive environment.
Vadodaria added that with burnout impacting nearly 80% of professionals and the lines between work and life becoming increasingly indistinct, we believed it was essential to provide an alternative. PRANA serves as that alternative—a space crafted to replenish what the modern lifestyle drains away.
Nila Spaces is an innovative real estate development firm dedicated to creating sustainable, community-focused, and wellness-centric urban spaces. By prioritising design and embracing a commitment to forward-thinking living, the firm is transforming the landscape of real estate in India’s smart cities and beyond.
